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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Retail space
54 Haverhill St, Andover, MA 01810-1405
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-0439171
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1936
Construction
FRAME
Total area
1,452 SF
Lot
0.14 ac (5,924 SF)
Zoning code
SRA
APN
ANDO M:00018 B:00003 L:00000
UPID
US38-0439171
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mr Takeout Grill & Deli Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
$365k
Comparable Approach
Comparable
$478k
Blend (final)
Blend
$530k
Owner & transaction history
Ramzi Elshrafi · 1 yrs held
Ramzi Elshrafi
since 2025
Last sale
$557,500
4 recorded transactions
Zoning & alternative use
SRA · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$370,000
+14.0%
Auto repair, garage
$350,000
+7.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Andover submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$510,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
$400,000
6.5%
$365,000
7%
$340,000
Alternative Use
Use
Estimation
RETAIL STORES
$325,000
Current use
OFFICE BUILDING
$370,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$350,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $558k (Apr 17 2025)
Last sale anchor
$558k
Apr 17 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$365 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$11,932
Tax year 2024
Assessed value
$468,300
Assessed 2024
Previous assessed
$422,300
+10.9% YoY
Effective rate
2.55%
On assessed value
Assessed land
$252,300
Assessed improvement
$216,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1936
Construction
FRAME
Heating
ELECTRIC
Buildings
1
Stories
1
Units
1
Rooms
4
Bathrooms
1
Total area
1,452 SF
Lot
0.14 ac (5,924 SF)
Zoning code
SRA
APN
ANDO M:00018 B:00003 L:00000
UPID
US38-0439171
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
SRA · Andover, MA
Zoning SRA · permitted uses
SRA · Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Andover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$325,000
OFFICE BUILDING
Est. value
$370,000
AUTO REPAIR, GARAGE
Est. value
$350,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1936
Construction
FRAME
Heating
ELECTRIC
Stories
1
Buildings
1
Units
1
Rooms
4
Bathrooms
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Ramzi Elshrafi
Individual
Mailing address
29 BALDPATE RD, GEORGETOWN, MA 01833-2302
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2025
$557,500
Ramzi Elshrafi
Gerardo C Spagnuolo
Deed
$440,000 · Eagle Bank
May 11, 2021
$494,800
Gerardo C Spagnuolo
Nicholas Howie
Quit Claim Arm's Length For Ne States
$367,200 · Salem Five Cents Savings Bank
Aug 31, 2018
—
Nicholas Howie
Howie,george & Mary M
Personal Representative Deed
—
Apr 30, 2010
—
George Howie
—
Deed Of Trust
related
$75,000 · River Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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